phase out

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Phase Out

To gradually end something, especially a project. For example, a company seeking to wind down its research and development department my phase it out by cutting its budget successively over several years.
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phase out

To bring to an end in stages. Typically encountered with tax benefits that are phased out—decreased or diminished—over the course of several years.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
exactly how much of the tax benefit item is being phased out. This
The deduction will continue to be phased out for higher income taxpayers but the new law will raise the income-eligibility limits for the deduction.
The HSC is phased out for taxpayers with adjusted gross income (AGI) over a certain inflation-adjusted amount.
Currently, many tax breaks (exclusions, exemptions, deductions or credits) targeted at lower- or middle-income taxpayers are "phased out" for individuals or families at certain income levels.
In addition, personal exemptions are phased out for incomes between approximately $187,000 and $309,000.